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Japan Revises Economy Growth

Japan, the world’s second-biggest economy cut its economic growth forecast for the quarter ended December 2007, but the revised rate was still better than expectations.

Analysts had expected annualized growth in the quarter of 2.3%. Japan revised its assessment of the GDP growth in the fourth quarter of last year to an annualized 3.5% from a preliminary estimate of 3.7%.

Japan’s economy grew at 0.9% in the October to December period,  according to recent official data.

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